Exercise 11-24 (Static) Cash dividends, treasury stock, and statement of retained earnings LO C3, P2, P3 Alexander Corporation reports the following components of stockholders' equity at December 31, 2019. Common stock-$25 par value, 50,000 shares authorized 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 750,000 50,000 340,000 $1,140,000 During 2020, the following transactions affected its stockholders' equity accounts Feb. Jan. 2 Purchased 3,000 shares of its own stock at $25 cash per share. Jan. 7 Directors declared a $1.50 per share cash dividend payable on February 28 to the February 9 stockholders of record. 28 Paid the dividend declared on January 7. July 9 Sold 1,200 of its treasury shares at $30 caph per share. Aug. 27 Sold 1,500 of its treasury shares at $20 cath per share. Sept. 9 Directors declared a $2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Oct. 22 Paid the dividend declared on September 9. Dec. 31 Closed the $52,000 credit balance (from net income) in the Incone Summary account to Retained Earnings. Required: 1. Prepare journal entries to record each of these transactions 2. Prepare a statement of retained earnings for the year ended December 31, 2020 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020. Complete this question by entering your answers in the tabs below. Required: 1. Prepare Journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the year ended December 31, 2020, 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions View transaction list Journal entry worksheet Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2020. (Amounts to be deducte should be indicated by a minus sign.) ALEXANDER CORPORATION Stockholders' Equity Section of the Balance Sheet December 31, 2020 Common stock - $25 par value Pald-in capital in excess of par value, common stock Retained earnings Less: Cost of treasury stock Total stockholders' equity Next >